ILCV vs LRGF: Grades, Fees and Holdings Compared

iShares Morningstar Value ETF

ILCVANYSE Arca

iShares U.S. Equity Factor ETF

LRGFANYSE Arca

Overlap

52.9%by weight

Expense ratio

ILCV −0.04pt a year

ILCV0.04%LRGF0.08%

Avg volume · 30D

LRGF 7.0×the volume

ILCV24.4KLRGF172K

10Y return · a year

LRGF +1.5pt

ILCV+12.5%LRGF+14.0%

ILCV vs LRGF Performance

Nov 2, 2021 – Nov 2, 2026

+79.6%ILCV+82.7%LRGF

Expense ratio: ILCV 0.04%, better; LRGF 0.08%
Fund size: ILCV $1.37B; LRGF $3.65B
1Y total return: ILCV +20.9%, better; LRGF +10.5%
Yield (12M): ILCV 1.51%, better; LRGF 1.08%
Holdings: ILCV 375; LRGF 305
Avg volume (30D): ILCV 24.4K sh; LRGF 172K sh, better
NAV per share: ILCV $109.27; LRGF $76.99
52W range

ETF.net Grade

Pillar letters and Scores for ILCV, LRGF, with each pillar’s weight
Pillar	ILCV	LRGF
Cost30% weight	A99Higher	A95
Mission25% weight	A82	A93Higher
Risk15% weight	A90Higher	C54
Tradability15% weight	B64	A77Higher
Holdings10% weight	D39	D39
Durability5% weight	A82	A86Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. ILCV and LRGF are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

ILCV ranks 2nd and LRGF 5th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 2AVYMVanguard High Dividend Yield ETFScore 81
Rank 5AIUSGiShares Core S&P U.S. Growth ETFScore 79
Rank 5ALRGFiShares U.S. Equity Factor ETFScore 79
Rank 5AQUSState Street SPDR MSCI USA StrategicFactors ETFScore 79

Our read on each fund

ETF.net Research

ILCVAiShares Morningstar Value ETF

LRGFAiShares U.S. Equity Factor ETF

In short

ILCV Value done the thorough way: roughly 400 large- and mid-cap US stocks screened on five separate value measures, not just cheap book value. Running since 2004 at four basis points, it's one of the cheapest tickets into the value factor.

LRGF Four factor tilts (value, quality, momentum, low volatility) blended into one roughly 300-stock U.S. portfolio, priced at 0.08%: a fraction of what the typical multifactor fund charges.

Stated mandate

ILCV The fund seeks to track an index of U.S. large- and mid-cap stocks selected with value-oriented measures including forward earnings, book value, sales, cash flow, and dividend yield.

LRGF The fund seeks to track an index of U.S. stocks selected through value, quality, momentum, low-volatility, and size factors. It is positioned as a diversified core U.S. equity portfolio using a multifactor strategy.

Why people hold it

ILCV Charges 0.04% a year against a 0.32% median for its factor peer group. Undercuts well-regarded rivals like VONV (0.06%) and FNDX (0.25%).
Value gets defined five ways: forward earnings, book value, sales, cash flow and dividend yield. Wider lens than a single price-to-book screen.ishares.com
Spreads the bet across about 400 large- and mid-cap names and distributes quarterly.
Trading since 2004 and now a multi-billion-dollar fund, it ranks among the strongest implementations in its factor cohort.

LRGF Charges 0.08% a year against a 0.32% median for multifactor peers. Factor machinery at close to plain index-fund pricing.
One ticker, four screens: value, quality, momentum and low volatility, spread across about 300 U.S. stocks instead of a single-factor bet.ishares.com
Live since 2015 and now a multi-billion-dollar iShares fund that pays quarterly. This strategy has been through real market cycles, not a backtest.
Stands in the top quartile of a 107-fund multifactor cohort, one of the stronger implementations in a very crowded field.

Worth knowing

ILCV One of the quieter tickers in its category. Thin volume means spreads matter more here than on a mega-cap index fund, and limit orders are the usual tool.
Value-only by design. It skips the market's priciest growth leaders, so it moves differently from a total-market fund in both directions.ishares.com
Large and mid caps only. Small-cap value sits outside the mandate.

LRGF Blending four factors can mute any single one, and the mix can drift from a plain cap-weighted large-cap index in either direction.
Straight-style peers go cheaper still: IUSG and VYM run at 0.04%. The factor engineering carries a small premium over vanilla exposure.
Moderately traded rather than one of the category's most active names, so order size and timing matter more than with the largest core funds.

Full ILCV profile⁠

Full LRGF profile⁠

ILCV vs LRGF Holdings

How ILCV and LRGF differ

Overlap by weight

52.9%

Shared holdings make up 78.6% of ILCV and 65.4% of LRGF.

Level by level

Holdings153 in both52.9%
Sector11 Sectors83.6%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in ILCV and LRGF, widest gap first
Sector	More in ILCVMore in LRGF	ILCV	LRGF
Technology	LRGF +13.3 points	23.9%	37.2%
Financials	ILCV +5.9 points	17.7%	11.8%
Energy	ILCV +3.2 points	6.6%	3.4%
Health Care	ILCV +2.8 points	13.4%	10.6%
Consumer Staples	ILCV +2.7 points	7.3%	4.6%
Consumer Discretionary	LRGF +1.7 points	8.6%	10.3%
Utilities	ILCV +1.0 points	3.0%	2.0%
Industrials	LRGF +1.1 points	6.9%	8.0%
Real Estate	ILCV +0.6 points	1.7%	1.1%
Communication	LRGF +0.5 points	8.8%	9.3%
Materials	ILCV +0.4 points	2.1%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in ILCV and LRGF, widest gap first
Country	More in ILCVMore in LRGF	ILCV	LRGF
United States	Same weight	99.2%	99.2%
Switzerland	ILCV +0.4 points	0.4%	0.0%
China	LRGF +0.2 points	0.1%	0.3%
Brazil	LRGF +0.1 points	0.1%	0.2%
Finland	LRGF +0.2 points	0.0%	0.2%
United Kingdom	Same weight	0.1%	0.1%
Mexico	LRGF +0.1 points	0.0%	0.1%
Ireland	ILCV +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

ILCV34.2%
LRGF34.5%

Securities held

ILCV372
LRGF302

Asset class

ILCV: Equity
LRGF: Equity

Holdings

Only in ILCV219
In both153
Only in LRGF149

Only in ILCV

219 securities, 21.4% of ILCV by weight

Home Depot0.94%
Conocophillips0.53%
Union Pacific0.52%
Accenture PLC Class A0.45%
Texas Instrument0.43%
Danaher0.43%
Progressive0.38%
Capital One Financial Corp0.36%
Prologis Reit0.35%
Lowes Companies Inc0.33%
Phillips 660.32%
Vertex Pharmaceuticals0.28%
Intercontinental Exchange Inc0.27%
Charles Schwab0.27%
Us Bancorp0.26%
Regeneron Pharmaceuticals0.26%
Pnc Financial Services Group0.26%
Deere0.25%
Waste Management Inc0.25%
Comcast Class A0.24%
United Parcel Service Inc Class B0.23%
Slb0.23%
Moderna0.22%
T Mobile Us Inc0.22%
Hca Healthcare0.20%
Honeywell International Inc0.20%
Fedex Corp0.20%
Cheniere Energy0.20%
Blackstone0.17%
Oneok0.17%
Marsh0.17%
Truist Financial0.17%
Starbucks Corp0.16%
Devon Energy0.16%
Sempra0.16%
Dominion Energy0.16%
Aflac0.16%
Metlife0.15%
Williams0.15%
Delta Air Lines0.15%
Marriott International Class A0.15%
Paccar Inc0.14%
Colgate-Palmolive0.14%
Xcel Energy Inc0.14%
Keurig Dr Pepper Inc0.14%
Strategy Inc Class A0.14%
Occidental Petroleum Corp0.13%
Nike Class B0.13%
Equinix Reit0.12%
Norfolk Southern Corp0.12%

Only in LRGF

149 securities, 34.6% of LRGF by weight

NVIDIA7.00%
Broadcom Inc2.41%
Eli Lilly1.46%
Advanced Micro Devices0.97%
Ge Aerospace0.77%
Aercap Holdings0.65%
Palantir Technologies Class A0.63%
Lam Research0.61%
Space Exploration Technologies Cor0.46%
Kla0.43%
Applied Material Inc0.43%
Ralph Lauren Class A0.42%
Docusign0.37%
Arista Networks0.35%
Crowdstrike Holdings Class A0.35%
Medpace Holdings0.33%
Atlassian Corp Class A0.32%
Interactive Brokers Group Inc Clas0.32%
Mueller Industries Inc0.31%
Seagate Technology Holdings PLC0.31%
Spotify Technology0.30%
Best Buy0.30%
Johnson Controls International PLC0.29%
Sharkninja0.29%
Ge Vernova0.29%
Intel Corporation0.29%
Fortinet0.29%
Applovin Class A0.28%
Ecolab0.28%
Affiliated Managers Group0.28%
Veeva Systems Class A0.27%
Okta Class A0.27%
Brixmor Property Group Reit Inc0.25%
Oscar Health Class A0.24%
Host Hotels & Resorts Reit0.24%
Hasbro0.23%
Howmet Aerospace0.23%
Cintas0.22%
Rubrik Class A0.22%
Netflix0.21%
Etsy0.21%
Millicom International Cellular0.21%
Amphenol Corp Class A0.21%
Jabil0.20%
Nasdaq Inc0.20%
Exelixis Inc0.20%
Vistra0.19%
Crane0.19%
Halozyme Therapeutics0.18%
Emcor Group0.18%

Weight gaps

The 100 widest of 153 Holdings in both funds.

Holding weights in ILCV and LRGF, widest gap first
Holding	More in ILCVMore in LRGF	ILCV	LRGF
MicrosoftMSFT	ILCV +2.96 points	8.36%	5.40%
Berkshire Hathaway Inc Class BBRK.B	ILCV +2.37 points	2.86%	0.49%
Alphabet Class CGOOG	LRGF +1.62 points	1.63%	3.25%
Alphabet Class AGOOGL	ILCV +1.42 points	2.02%	0.60%
Exxonmobil Holdings CorpXOM	ILCV +1.05 points	2.20%	1.15%
JPMorgan Chase & CoJPM	ILCV +1.05 points	2.56%	1.51%
Bank of New York Mellon CorpBNY	LRGF +0.88 points	0.11%	0.99%
UnitedHealth GroupUNH	ILCV +0.74 points	1.04%	0.30%
Thermo Fisher ScientificTMO	ILCV +0.71 points	0.74%	0.03%
Merck & Co IncMRK	ILCV +0.66 points	1.05%	0.39%
Johnson & JohnsonJNJ	ILCV +0.65 points	1.88%	1.23%
Meta Platforms Class AMETA	ILCV +0.62 points	2.47%	1.85%
Cisco Systems IncCSCO	ILCV +0.62 points	1.18%	0.56%
ChevronCVX	ILCV +0.61 points	1.26%	0.65%
Coca-ColaKO	ILCV +0.53 points	1.05%	0.52%
Walt DisneyDIS	ILCV +0.53 points	0.55%	0.02%
Costco Wholesale CorpCOST	ILCV +0.52 points	0.72%	0.20%
Philip Morris InternationalPM	ILCV +0.51 points	0.93%	0.42%
EbayEBAY	LRGF +0.50 points	0.09%	0.59%
Altria Group IncMO	LRGF +0.49 points	0.37%	0.86%
AbbVieABBV	ILCV +0.48 points	1.49%	1.01%
Bank of AmericaBAC	ILCV +0.48 points	0.93%	0.45%
Procter & GamblePG	ILCV +0.47 points	1.07%	0.60%
Morgan StanleyMS	ILCV +0.45 points	0.63%	0.18%
General MotorsGM	LRGF +0.44 points	0.22%	0.66%
RtxRTX	ILCV +0.44 points	0.77%	0.33%
Marathon PetroleumMPC	LRGF +0.41 points	0.18%	0.59%
Travelers CompaniesTRV	LRGF +0.40 points	0.24%	0.64%
Williams Sonoma IncWSM	LRGF +0.39 points	0.05%	0.44%
Visa Class AV	LRGF +0.39 points	1.01%	1.40%
Nextera EnergyNEE	ILCV +0.39 points	0.50%	0.11%
Mcdonalds CorpMCD	ILCV +0.36 points	0.52%	0.16%
CitigroupC	ILCV +0.37 points	0.59%	0.22%
ChubbCB	ILCV +0.34 points	0.37%	0.03%
Technipfmc PLCFTI	LRGF +0.34 points	0.02%	0.36%
International Business Machines CoIBM	ILCV +0.33 points	0.69%	0.36%
BlackRockBLK	ILCV +0.33 points	0.46%	0.13%
State StreetSTT	LRGF +0.33 points	0.07%	0.40%
Trane Technologies PLCTT	LRGF +0.31 points	0.12%	0.43%
Northern TrustNTRS	LRGF +0.30 points	0.04%	0.34%
Booking HoldingsBKNG	LRGF +0.29 points	0.32%	0.61%
SalesforceCRM	ILCV +0.28 points	0.52%	0.24%
Abbott LaboratoriesABT	ILCV +0.28 points	0.52%	0.24%
Expedia GroupEXPE	LRGF +0.27 points	0.04%	0.31%
Synchrony FinancialSYF	LRGF +0.26 points	0.07%	0.33%
TapestryTPR	LRGF +0.26 points	0.02%	0.28%
Exelon CorpEXC	LRGF +0.24 points	0.14%	0.38%
Fox Class AFOXA	LRGF +0.24 points	0.04%	0.28%
Ge Healthcare TechnologiesGEHC	LRGF +0.24 points	0.10%	0.34%
KrogerKR	LRGF +0.24 points	0.11%	0.35%
Goldman Sachs GroupGS	ILCV +0.23 points	0.74%	0.51%
Eog ResourcesEOG	ILCV +0.24 points	0.25%	0.01%
Elevance Health IncELV	ILCV +0.22 points	0.25%	0.03%
American Tower ReitAMT	ILCV +0.22 points	0.25%	0.03%
QualcommQCOM	ILCV +0.22 points	0.50%	0.28%
American International GroupAIG	LRGF +0.20 points	0.12%	0.32%
SouthernSO	ILCV +0.20 points	0.31%	0.11%
Mettler ToledoMTD	LRGF +0.19 points	0.04%	0.23%
Dell Technologies Inc Class CDELL	LRGF +0.18 points	0.10%	0.28%
Te Connectivity PLCTEL	LRGF +0.19 points	0.06%	0.25%
Bristol Myers SquibbBMY	LRGF +0.18 points	0.36%	0.54%
Vivmark ResidentialVMRK	LRGF +0.18 points	0.01%	0.19%
Amgen IncAMGN	ILCV +0.17 points	0.72%	0.55%
Lockheed MartinLMT	ILCV +0.17 points	0.36%	0.19%
Linde PLCLIN	ILCV +0.17 points	0.68%	0.51%
Atmos EnergyATO	LRGF +0.17 points	0.04%	0.21%
Adobe IncADBE	ILCV +0.16 points	0.28%	0.12%
Wells FargoWFC	ILCV +0.16 points	0.72%	0.56%
Cardinal HealthCAH	LRGF +0.16 points	0.07%	0.23%
StrykerSYK	ILCV +0.14 points	0.21%	0.07%
AT&TT	LRGF +0.15 points	0.42%	0.57%
General Dynamics CorpGD	ILCV +0.15 points	0.26%	0.11%
3MMMM	ILCV +0.14 points	0.26%	0.12%
Mondelez International Class AMDLZ	ILCV +0.14 points	0.24%	0.10%
PepsicoPEP	ILCV +0.14 points	0.54%	0.40%
Ulta Beauty IncULTA	LRGF +0.14 points	0.03%	0.17%
CignaCI	ILCV +0.13 points	0.22%	0.09%
Mckesson CorpMCK	LRGF +0.12 points	0.25%	0.37%
TjxTJX	ILCV +0.13 points	0.28%	0.15%
Boston ScientificBSX	ILCV +0.12 points	0.17%	0.05%
Ford Motor CoF	LRGF +0.12 points	0.14%	0.26%
Tenet Healthcare CorpTHC	LRGF +0.12 points	0.06%	0.18%
Simon Property Group Reit IncSPG	LRGF +0.11 points	0.10%	0.21%
Expeditors International of WashinEXPD	LRGF +0.10 points	0.04%	0.14%
NewmontNEM	ILCV +0.10 points	0.32%	0.22%
Cvs HealthCVS	ILCV +0.10 points	0.33%	0.23%
Consolidated EdisonED	LRGF +0.10 points	0.12%	0.22%
Emerson ElectricEMR	LRGF +0.10 points	0.10%	0.20%
OracleORCL	ILCV +0.10 points	0.33%	0.23%
S&P GlobalSPGI	ILCV +0.10 points	0.27%	0.17%
IntuitINTU	ILCV +0.09 points	0.26%	0.17%
Target CorpTGT	LRGF +0.10 points	0.20%	0.30%
Crh Public Limited PLCCRH	ILCV +0.09 points	0.11%	0.02%
Leidos HoldingsLDOS	LRGF +0.09 points	0.05%	0.14%
Medtronic PLCMDT	ILCV +0.09 points	0.35%	0.26%
Allstate CorpALL	LRGF +0.09 points	0.09%	0.18%
Duke Energy CorpDUK	ILCV +0.08 points	0.28%	0.20%
Becton DickinsonBDX	ILCV +0.08 points	0.15%	0.07%
MercadolibreMELI	ILCV +0.08 points	0.12%	0.04%
Nrg Energy IncNRG	LRGF +0.08 points	0.03%	0.11%

All 372 ILCV holdings⁠All 302 LRGF holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ILCV vs LRGF Cost

Overpaying LRGF vs ILCV

$840

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ILCV 0.04%
$849
LRGF 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

ILCV 0.04%
LRGF 0.08%
Overpaying

Year by year

Year	ILCV	LRGF	Overpaying
10	$73	$147	$74
20	$288	$575	$287
30	$849	$1,689	$840

Expense ratio

0.04%ILCV, cheaper
0.08%LRGF

ILCV0.04%LRGF0.08%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

LRGF 6th cheapest of 99 funds

ILCV vs LRGF Dividends

Last 12 months to Nov 2, 2026

Yield (12M): ILCV 1.51%, better; LRGF 1.08%
Payout (12M): ILCV $1.65; LRGF $0.83
Last payment: ILCV $0.42; LRGF $0.20
Ex-dividend: ILCV Sep 15, 2026; LRGF Sep 15, 2026
Paid on: ILCV Sep 18, 2026; LRGF Sep 18, 2026
Frequency: ILCV Quarterly; LRGF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

LRGFQuarterly · 40 paymentsAll LRGF payments⁠

ILCV vs LRGF Risk

Fall from peak · 5 years

ILCV
LRGF

Risk facts

VolatilityStd dev, 3 years: ILCV 10.7%, betterLRGF 12.5%
Return per unit of riskSharpe ratio, 3 years: ILCV 1.57, betterLRGF 1.43
Worst fallMax drawdown, 5 years: ILCV −18.6%, betterLRGF −21.6%
Market sensitivityBeta, 5 years: ILCV 0.82LRGF 0.99; Market = 1

ILCV and LRGF in the news

All news⁠

Category Review
US multifactor funds ran 30 points apart
Updated Oct 23, 2026LRGF
ETF Filings
Tidal Trust III files to add a Wermers quantitative U.S. large-cap ETF
Sep 11, 2026LRGF

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ILCV vs LRGF

In short

Stated mandate

Why people hold it

Worth knowing

How ILCV and LRGF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCV

Only in LRGF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

US multifactor funds ran 30 points apart

Tidal Trust III files to add a Wermers quantitative U.S. large-cap ETF

How ILCV and LRGF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCV

Only in LRGF

Weight gaps